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Alphabet Inc. (GOOG, GOOGL) has committed to a $5 billion investment in its autonomous driving unit, Waymo. This investment is consistent with previous annual levels and aims to further develop Waymo's technology and commercialization efforts. Tesla CEO Elon Musk mocked the investment on social media, highlighting the significant cash burn associated with Waymo. Waymo is currently operational in several cities, offering autonomous rides.

Portfolio Pulse from Anan Ashraf

July 24, 2024 | 8:03 am

VGK

The Eurozone Services Purchasing Managers Index (PMI) for July came in at 51.9, below the estimated 52.9 and the prior 52.8. This indicates a slower expansion in the services sector than expected.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 8:02 am

VGK

The Eurozone Manufacturing Purchasing Managers Index (PMI) for July came in at 45.6, below the estimated 46.0 and the prior 45.8. This indicates a contraction in the manufacturing sector.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 8:01 am

GE

GE Aerospace announced that EVA Air has placed an order for GEnx engines to power their recently purchased Boeing 787-10 Dreamliner aircraft.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 8:01 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) reported mixed second-quarter results, with a top-line beat but earnings per share trailing expectations. The stock plunged sharply in after-hours trading. Key concerns include disappointing auto gross margins, lower-than-expected free cash flow, and significant reliance on one-time zero-emission vehicle credit sales. Analysts and investors are questioning Tesla's valuation, with some suggesting the stock is overvalued.

Portfolio Pulse from Shanthi Rexaline

July 24, 2024 | 7:58 am

GE

GM

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KO

TSLA

US stocks closed lower on Tuesday as investor optimism decreased ahead of big tech earnings. Coca-Cola, GE Aerospace, and General Motors reported better-than-expected Q2 results and raised their guidance. Tesla reported weaker-than-expected earnings but beat sales estimates, while Alphabet reported strong earnings and sales. The CNN Money Fear and Greed index moved to the 'Neutral' zone.

Portfolio Pulse from Avi Kapoor

July 24, 2024 | 7:39 am

EWG

The HCOB Germany Services Purchasing Managers Index (PMI) for July came in at 52.0, below the estimated 53.2 and the prior 53.1. This indicates a slowdown in the growth of the services sector in Germany.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 7:38 am

EWG

The HCOB Germany Manufacturing Purchasing Managers Index (PMI) for July came in at 42.6, below the estimated 44.1 and the prior 43.5. This indicates a further contraction in Germany's manufacturing sector.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 7:38 am

EWQ

The France Services Purchasing Managers Index (PMI) for July came in at 50.7, surpassing the estimated 49.7 and the prior month's 49.6. This indicates an expansion in the services sector.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 7:23 am

EWG

Germany's GfK Consumer Climate index for August improved to -18.4, better than the estimated -21.1 and the revised prior figure of -21.6.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 7:22 am